X Empire price went vertical on November 6, soaring to its highest level in two weeks after KuCoin launched the X Savings Coin. It also rose after Donald Trump won the US election; a move that is expected to make Elon Musk more powerful. It peaked at $0.00010, up by 215% from its lowest level this month.
X Empire Price Reacts to KuCoin Savings Coin
KuCoin, one of the biggest crypto exchanges, launched a savings feature for X Empire, a recently launched Telegram token.
According to its website, the token will have an expected annual percentage return of 4%. The soft cap for a single user will be 100,000 tokens, while the hard cap will be 500 million coins.
This is a notable feature since KuCoin is one of the biggest crypto exchanges with over 34 million users. Its spot market handled tokens worth $1.4 billion in the last 24 hours, making it the tenth-biggest player.
The new listing is on top of several high-profile exchanges that have started to offer the coin. Most of its volume was in Bybit followed by OKX, Bitget, KuCoin, and Gate.io. As such, if this trend continues, there are rising odds that Binance, the biggest exchange will also list it.
X Empire price also jumped after Trump won, a move that will empower Elon Musk, who was his biggest supporter. He has promised to appoint Musk to lead the Department of Government Efficiency.
As a result, X Empire and other Elon Musk inspired coins like Dogelon Mars, ELON Coin, and King of MEMES jumped by double digits.
Additionally, the X crypto coin jumped after the futures open interest continued rising, reaching a record high of $10.8 million.
Could X Token Surge To $0.00015?
With crypto market today, the 4-hour chart reveals that X’s price bottomed at $0.000032 on November 3 before rebounding to $0.00010 by Wednesday.
This rebound happened after the token formed a falling wedge pattern between Oct. 25 and Nov. 3. A wedge is one of the most bullish reversal patterns.
X Empire coin has moved above the 25-period moving average. It has pulled back modestly as some investors start to take profits.
Therefore, there is a likelihood that the X price will bounce back as most cryptocurrencies recover.
More gains will be confirmed if the coin rises above this week’s high of $0.00010, invalidating a potential double-top pattern. If this happens, the X Empire price will rise to the key resistance level at $0.00015, which is 106% above the current level.
On the flipside, a drop below the support at $0.000066 will point to more downside, potentially to the all-time low of $0.000032.
The post X Empire Price Rises 66% as KuCoin Unveils Saving Coins; $0.00015 in Sight? appeared first on CoinGape.
